Market Insight

Market Roundup

The Hang Seng Index opened 73 points lower in the early morning, and after opening at 16,573 points, the day's decline expanded to 110 points, or 0.66%, to 16,535 points; the H-Share Index fell 42 points, or 0.7%, to 5,607 points; the Hang Seng Technology Index fell 62 points, or 1.7 %, reported 3,592 points. The total daily turnover of the market was HK$81.8 bn. Giordano (709) announced a positive profit forecast that net profit for 2023 will increase by 21%-29% year-on-year, but its stock price fell more than 23.5% today to HK$2.04. There is also news that Ctrip (9961) has signed contracts for more than 2,100 offline stores in 2023, much higher than the record of 1,375 stores in 2019. The stock price rose 2.8% today.

Source: KGI Asia Investment Strategy

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